Dermata Therapeutics (NASDAQ:DRMA) Stock Price Down 0.7% – Here’s What Happened

Dermata Therapeutics, Inc. (NASDAQ:DRMA)’s stock price dropped 0.7% during mid-day trading on Wednesday . The company traded as low as $1.3412 and last traded at $1.40. Approximately 47,076 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 88,979 shares. The stock had previously closed at $1.41.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DRMA. Weiss Ratings raised shares of Dermata Therapeutics from a “sell (e)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. Wall Street Zen raised shares of Dermata Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.00.

Dermata Therapeutics Price Performance

The firm has a market capitalization of $5.39 million, a PE ratio of -0.25 and a beta of 0.67. The stock has a 50-day simple moving average of $1.26 and a 200-day simple moving average of $1.51.

Dermata Therapeutics (NASDAQ:DRMA) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.05.

Hedge Funds Weigh In On Dermata Therapeutics

A hedge fund recently bought a new position in Dermata Therapeutics stock. Clear Street Group Inc. bought a new position in Dermata Therapeutics, Inc. (NASDAQ:DRMA) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 17,000 shares of the company’s stock, valued at approximately $39,000. Clear Street Group Inc. owned approximately 0.60% of Dermata Therapeutics as of its most recent SEC filing. 8.67% of the stock is owned by hedge funds and other institutional investors.

Dermata Therapeutics Company Profile

Dermata Therapeutics is a clinical-stage immunodermatology company dedicated to developing novel small-molecule therapies for inflammatory skin disorders. The company’s lead clinical candidate, DMVT-502, is being evaluated in atopic dermatitis, while DMVT-505 is in development for vitiligo. In addition to these programs, Dermata advances preclinical assets targeting other indications such as alopecia areata.

At the core of Dermata’s approach is a proprietary drug discovery platform that combines structure-based design, medicinal chemistry and innovative formulation techniques.